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Biden Flips on corporate taxes for businesses.
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Biden Flips on corporate taxes for businesses.
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President joe biden will likely be unable to keep one of his campaign promises to roll back the historically unpopular. Well, i don't know if they're unpopular 2017 tax cuts because of unyielding resistance among even some of its of his own in his own party uh, all right. Let's see here biden's case, kirsten cinema of arizona has loomed the biggest obstacle opposing the tax increases. Biden has already acknowledged that there aren't enough votes to raise the corporate tax rate.
Oh whoa, that folks is huge for the stock market. Oh, that is that's dalahalas folks, and i imagine that could be what actually leads to a little bit more of a rally today, because when this tax plan was announced, the market fell uh a good three or four percent. I mean we had a fall when there was talk about corporate tax rates going up, which we expect a higher corporate tax rate to 28 percent, even 26.9 percent - to have about four to five percent impact on the market. If now we're not going to get that, we can see a reversal of that, and i think this just reiterates this end of the year rally that uh not only we've been expecting, but that it kind of feels like we're in right.
Now it's been a little bit harder to buy right now, because everything just seems to be. You know up up up up and away i've. Obviously, every time i either close an option or i sell some puts or whatever i send alerts in the stocks and psychology money group link down below keep in mind that coupon code does expire on friday, which just means the price is going up. The next day.
Uh, i know sometimes the people that was like heather dude joey's, a coupon yeah, but the net price goes up and up and up over time, and that is really just a reward to the early adopters. Like yesterday, i published like 26 new lectures totally for free, like there's no upsell for those in in the the program uh, but because of that price goes up over time anyway, uh so uh. This is actually really really bullish. I'd, say: uh.
The setback is ironic. Considering how many how trump's overhaul was? Historically, i don't understand why they're saying it was historically unpopular to whom was it historically unpopular, oh 538. Did the poll okay i'll hold my breath? Not all right, we'll see what happens in just a moment. I'm surprised uh that it seems like the corporate tax rate hike is out.
That's huge more about the tax plan will be known later this week, with senate democrats planning to release their own plan to fund what's been shaping up to be a near 2 trillion social spending package. The negotiations over revenue position provisions are ongoing. There are many options for the wealthy and corporations to pay their fair share. You know i'm tired of hearing that fair share line uh and that's mostly because when i pay taxes i pay like 55, i'm paying lots in taxes.
Why? Why do they say it's unpopular? Who says it's unpopular about a third of voters currently support the tax reform package. Okay, this was this is an old uh article huh yeah. This is from from november of 2017. I would love to see a poll after after the fact like now that it's been passed. How do people feel about the tax cuts now from 2017? I would argue a lot of the the provisions in there are actually relatively popular uh, but okay, trump's tax law could end up being one of his most enduring policy. Legacies. 2017 republican tax law took the corporate tax rate down to 21 from 35 percent lowered the top tax rate for the highest earning americans to 37. This is bullish on the corporate taxes staying well.
This is this is great tense lobbying, okay, obviously lobbying political reality. The popularity of a higher corporate tax rate means democrats are likely to continue to focus on that for years to come, i mean i don't and i'm not saying this to be political, but i don't think democrats are going to hold on to power in 2022. I think we just have to be real with that. That democrats are probably going to lose power, so if they want to raise the corporate tax rate, they're gon na have to figure out how to do that, like asap and uh without reconciliation.
I don't know if they're gon na be able to pull it off, so the fair share tax issue going forward is going to play a major role right: tax, the rich stuff, okay, got it whatever so uh all right, let's pull back uh so yeah, but that Is actually very, very good news, i will say on the corporate tax rate and i i would expect the markets to to be bullish on that. Overall, in fact, like i mentioned, i mean the indices were mostly green so far this morning already, and i don't know how much right now this is contributing to the market. I think it's just something that can continue to be a sort of a wind at the back of these markets, but uh worth noting again that markets did fall when this corporate tax rate plan was announced uh at the beginning of biden's term and so uh. It's exciting to see a rotation here.
Nasdaq future is now up about point six percent.
Unpopular really! Come on Kevin I don’t know anyone who wants to give all there money away.
People like Kevin got a huge tax break from Trump's tax cuts. I got a tax increase.
Biden is a war criminal and shuld be courtmartial
I like tax cuts . I just didn’t like removal of salt
Demacrats going to democrat. Don’t worry, they will regroup and reengineer a new way to get their hands further into everyones pockets.
Allow us all to move forward……
Brandon.
Kevin doesn't realize how poor a large majority of Americans are.
The Trump tax cuts were very unpopular. Literally every poll states just that.
The United States is an "exploitative capitalist" country. Billionaires did not get rich by "investing wisely." They got rich by exploiting overseas slave labor and their fellow Americans. Let's go straight to the top and take a look at the three Walmart kids, Rob, Jim, and Alice Walton. By way of nepotism they inherited Walmart and are worth a combined $235 billion. Let's put things in perspective. A million dollars is $100,000 a year X 10 years. $1 billion is $100,000 a year X… wait for it… 10,000 years. Take a moment and think about it. Now consider this. Walmart could pay all 565,000 U.S. employees in the company $100,000 a year in perpetuity, and it will not affect the Walton family's wealth whatsoever. In fact, the Walton's will still get billions of dollars richer. Walmart grossed $550 billion last year. Paying all 565,000 employees $100,000 a year would cost Walmart $56 billion a year. Payroll would be 1/10 of their yearly gross. Arguments in support of the rich do not work anymore. Every worker, who built and sustains Walmart deserves to share in the profits of Walmart. This is real socialism.
In a true capitalist society, businesses, banks, and corporations should rise and fall on their own, without government intervention. We all know this isn't how a capitalist society works. If businesses, banks, and corporations fail they turn to the government for bailouts. This is simply social welfare for the rich in the guise of "quantitative easing." The people in charge of the Fed come from private sector big banks. While workers are forced to pay taxes, laws are written for the rich to evade taxes. Most people think socialism is social welfare, real socialism focuses on workers, on the laborers who work for those people who own the capital. Real socialism means that workers share in the profits of those that own capital. Socialism emphasizes the well being of the many over the riches of the few. Under real socialism we would not have billionaires. All boats would be lifted and not one class would be able to subjugate another. Investing wisely is investing in the American people.
Why, why on earth you pay 55% of taxes Kevin? Just moved out of California.
Has anyone else besides me noticed our government has become increasingly inconsistent and abusive towards taxpayers?
1, that dude hasn't kept 1 yet. Dude said anything he had to to get in.
THE TOP 10% pay exponentially HIGHER tax than a fair tax
EARTH TO KEVIN:
Govt. revenue under the Trump tax cuts were OVER 4.4 Trillion, record levels. The US has no revenue problem, we SPEND way too much. Budens tax & spend is delusional
Glad everyones calling out the tax on UNrealized gains, Evil as hell.
All I’m saying is: Let’s go Brandon .. Who the Frick vote for this guy? 80 million my ass
Hey Kevin :). It’s my understanding that the 2017 tax cuts were and still are very unpopular because they supposedly only benefited the higher income earners. Although I do believe those tax cuts should have never taken place, I do not believe now is the time to increase taxes until we have a more robust economic recovery (most likely 2023 and beyond). IMO (and Keynes and most modern economists) – Increase Monetary & Fiscal Policies (and decrease taxes in recessions) / Decrease Monetary & Fiscal Policies (and increase taxes in robust economies)
you get to reap the benefits of living in this country which allows you access to ALL the things you make your money off of INCUDING you tube. money FAR BEYOND your famlies wildest dreams n you complain about having to pay taxes. lol.. clown.
Lecture in one day 26 new programs? Is there free trail to the classes?
Anyone being taxed more than 50% is a slave. Sorry, Kevin!
Thumbs up if you didn't vote for Biden in 2020.
So many stupid ppl like u, u gotta have fun watching
No way Biden is fiAikinf.
Could not even see it with a straight face
Trump did it So they have to say it’s unpopular
The idea that Trump's tax cuts translated to wealthy people while shafting the rest is simply not true. Wealthy people in high tax states often saw an overall tax increase under the new tax policy since they capped the SALT deduction at $10,000. This affected people making over $1 million in high tax states, which are mostly blue states, where wealthy tax payers in low tax red states weren't affected as much. The entire notion that it was a 'tax cut for the rich' is a lie.
Can you do a video on dems trying to tax on properties appreciation?